Surely, we have a pause on down trend here , that means any dips can be bought prior to London opening. The downgraded GDP forecast in monetary policy statement with an assumption of one more rate cut in 2020 had taken the pace out of aud bulls for now. As long as GDP stays where it is, we shall see GBP AUD reclaiming 1.93 level
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Getting past the cloud is the next key hurdle, i dont expect much as its the last trading day of the week. NFP shall rule the major pairs and we need to project move in cross based on that
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I am out with profit, now its time to assess if its a pullback for further progress or its a complete pullback
I would be using 10 ema in 1 hr and 10 ema in 4 hr to assess the bounce back
I would be using 10 ema in 1 hr and 10 ema in 4 hr to assess the bounce back
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Next buy would be on how well 1.92800 holds
